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Global blockchain market to reach $104.19 bn by 2028

Global blockchain market size-IFM-image
The market is set to grow at a CAGR of 55.8% between 2021 to 2028

The global blockchain market is forecasted to grow significantly in the coming years and is expected to reach $104.19 billion by 2028, according to the ‘Blockchain Market, 2021-2028′ report by Fortune Business Insights. The market is set to grow at a Compound Annual Growth Rate (CAGR) of 55.8 percent between 2021 and 2028.

To put things into perspective, the market stood at $3.06 billion in 2020. The pandemic has accelerated the growth of technology and blockchain in particular. There has also been a growing demand for cloud-based technology solutions in recent times.

According to an analysis report by Research Dive released earlier this month, the global blockchain IoT market is projected to garner nearly $5.802.7 million revenue by 2026, and grow at a CAGR of 91.5 percent from 2019 to 2026.

Recently, Berlin-based AI-powered computer vision startup Mobius raised around £4.5 million in a fresh funding round, which will be used to expand in the UK. The startup plans to open an office in the UK in early 2022.

The funding round for Mobius was led by European Venture Capital pioneer Ventech VC. Other investors that also participated in the funding round include Atlantic Labs, APEX Ventures, Space Capital, Lunar Ventures and additional angel investors.

Appu Shaji, chief executive and chief scientist at Mobius Labs told the media, “I am very proud of what we have achieved at Mobius Labs so far but there is still a lot to be done. This new round of funding will help accelerate our plans and expand quickly as a company.”

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